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Aug 10 - 01:55 AM

GBP/USD - Treads Water Above Vulnerable Key Support

By Andrew M Spencer  —  Aug 09 - 11:46 PM

  • Steady in a tight 1.3837-1.3851 range with only modest interest

  • UK consumer spending accelerates as lockdowns end nL8N2PG4L5

  • Major upcoming sterling event risk, but U.S. data likely key nL1N2PH01F

  • Charts; momentum studies, 5, 10 & 21 daily moving averages crest

  • Fresh bearish cross of the 5 and 10 daily moving averages - negative setup

  • 1.3831 21 DMA resilient, after 3 days of lower daily highs and lows

  • Sustained break of 1.3831 would open the door to the 1.3760 200 DMA

  • NY 1.3831 21 DMA and London 1.3893 high are initial support and resistance

    For more click on FXBUZ


gbp 3 aug 10 Click here

Source:
Refinitiv IFR Research/Market Commentary

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